Back-to-School: What to Buy Now, What to Buy Later

Andrea Woroch

Book reports and homework are the likely the last thing your kids are thinking about right now. Yet, retailers are already ramping up for back-to-school season with promotions on school supplies, clothing and gadgets. With so many sales events, parents may feel pressured to shop before the discounts disappear.

In fact, 24 percent of parents start shopping for the upcoming school season two months ahead of time. Although preparing ahead may alleviate some stress, it could result in unintentional overspending. To clear up the confusion consumers feel about back-to-school shopping in July, here's a guide on what to buy now, and what to buy later, to help you navigate the sales.

WHAT TO BUY NOW

Summer GoodsFrom shorts to sandals to tank tops, your kids will get a lot of use out of warm-weather clothing items through the first several weeks of school. As retailers clear out summer clothing and accessories to make room for fall merchandise, you can snag the basics for 50 to 70 percent off. Keep in mind, some of these discounted summer staples are great for layering during cold weather, too.

LaptopsYou can find great deals this time of year on laptops as retailers release all sorts of back-to-school promotions and packages that include free printers, software, gift cards and gaming consoles. For example, Best Buy is offering an HP 15.6" HD display Laptop with security software, sleeve, mouse and flash drive for $299.

BackpacksSeveral stores kickoff back-to-school with sales on the most iconic item of the season -- the backpack. For example, both L.L. Bean and Office Depot are currently offering 25-percent off select backpacks, with Office Depot including popular JanSport styles. Walgreens is offering buy one, get one free on select backpacks, with savings of up to $12.

Macs and iPadsEvery year, Apple offers education pricing and gift cards with Mac and iPad purchases. This year, they're offering a $100 Apple Store gift card with the purchase of a Mac, or a $50 gift card with the purchase of an iPad or iPhone. What's significant about this year is the gift card -- in the past, the card has been to the App Store, which limits purchases to digital content.

WHAT TO BUY LATER

School Supplies90% of back-to-school items for sale in July sold for the same or lower price in August last year, according to NerdWallet. Not only may more deals abound next month, but you can take advantage of the sales-tax holidays in August if you live in one of the 16 states that participate. The exception is Mississippi, whose tax-free holidays occur the last weekend in July.

DenimLots of of retailers will promote deals on denim during the back-to-school rush, but October is actually the best time to buy jeans. By then, retailers are eager to clear the excess inventory leftover from the back-to-school rush. If your son or daughter can get by on last year's styles during the first few weeks of class, you'll save a bundle!

Fall ApparelWhen it comes to fall and winter merchandise like boots, coats and sweaters, you're better off waiting until the holidays for the biggest markdowns of the season. If you can't wait that long, check out second-hand options via sites like thredUp.com or scope out offers at your local consignment shop. You can also download the Coupon Sherpa app which offers instant access to in-store discounts like 20-percent off from Aeropostale or 15-percent off at Kohl's.

SmartphonesMany electronic websites speculate that Apple will release the new iPhone 6 in September. That means older versions like the 5c and 5s will become old news and a better buy in early fall. Take notice, Walmart already reduced the price of the iPhone 5s from $149 to $99, while the iPhone 5c can be purchased for just $29. Both these offers require a new two-year contract with a major carrier. Keep in mind, many of these stores accept smartphone trade-ins for credit toward a new mobile device.